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RE: HF21: SPS and EIP Explained
Witness rewards are what controls the security, if you cut witness rewards, you cut funding for a proper server infrastructure. Which means the chain might go down or worse get forked out. Which would be a distaster. I don't think it's worth to reduce chain security to show that "we are in this together"
Yeah. Right.
He is right.
I disagree that a token amount would reduce chain security. I am not talking a huge amount, anything at all would show some solidarity. Just now it smacks of arrogance against those who create content.
The most often referenced number is 1%, and I do not consider that to be a token amount, it is a 10% reduction when the starting total is only 10%. In fact I have long term concerns about the sustainability of witness funding given the declining inflation schedule, so I do think that cutting it even further is dangerous.
But really the main reasons I don't think it should be done are:
I just have to disagree. And not with any of the facts you have eloquently referenced. It is over the sourcing coming entirely from the content part. There are many and perhaps valid points you have outlined above but it just smacks of witnesses looking out for themselves.
It looks arbitrary to me and it also looks as if it was decided amongst a biased group. Of course the witnesses wouldn't vote for any kind of cut to their allocation. Were there many non witnesses in that discussion, relative to the whole I mean?
There are always options. what about the ten percent coming from the rewards pool before it is split between witnesses, content etc?
You speak on behalf of securing the chain and the witnesses themselves. I have very valid fears that anything that further discourages content creators will ultimately see the demise of the platform and not in the long term. The situation is already dire.
And I am genuinely not saying this from a worried I will lose out perspective. We need the SPS. I hope it helps us move forward but I disagree with the sourcing of that ten percent.
I can't speak for everyone. Sure it is possible there are some with that view. But, truly, you are as far as I know making this accusation with no evidence at all, and simply on the basis of how it feels to you. Is that fair?
Anyway, it is stakeholders who are in charge, not witnesses. If stakeholders think that this isn't going to improve their bottom line or just isn't the right approach, witnesses who support it can and will be voted out and we go back to the drawing board on something that stakeholders will support (or alternately perhaps do nothing at all and keep things as they are). Witnesses are really just the messengers, not the ultimate deciders. (Some, perhaps most, are of course also major stakeholders, so their views carry additional weight and authority on that basis.)
This is exactly the same as the 1% (10% cut) from witnesses already discussed.
So you think that instead of shifting 10% from the content pool, if we instead shifted 9% from the content pool and 1% from witnesses, this dire outcome would be averted? We're discussing here, an increase in the resulting content pool from 65% to 66% of total inflation. That is literally a 1.5% increase in each payout, all else (Steem price, etc.) being equal. You think that will save the (Steem) world? Consider me quite skeptical about this.
On top of all the other points I mentioned, the bottom line is that nearly all of the budget is now going to the main content pool. Shifting of any percentage from the content pool has the smallest relative effect, and has a much bigger effect elsewhere. The 1% we are quibbling over is about a 1.5% change in the content pool, and would be a 10% reduction to witness rewards. You do the math on where that makes the most difference and carries the most risk. I have already stated my view.
I understand where you are coming from emotionally and philosophically in terms of "fair" and "sharing the pain" and all that, but ultimately the substance of the argument doesn't hold up.
You say it doesn't hold up but you don't seem to be able to grasp the point of view of the average user of this platform. You can argue ( hopefully not heated) at much as you like with the numbers and how little or how much difference or makes but the perception to the average user is that this is unfair
That is my point that that anything further to discourage content creators is not good. We can talk about safeguarding the security of the chain till we are blue in the face but if there is no content beyond the guff we are seeing there won't be a chain to safeguard.
This portioning as I stated looks to your average user to be unfair. That's my point. The average user has been ignored and maligned to date and this looks to compound that further.
And this
The winesses decided this.
Wouldn't the freedom/pumpkin vote negate your average non whale users even if they acted en masse? I would like to see the numbers on that.
I don't think the stakeholders ultimately do decide unless you bring it back to stake and that is wholly different kettle of fish because if the freedom/Pumpkin stake
By whom? I certainly don't malign the average user and I would like to think I don't ignore either, though certainly it isn't possible to pay individual attention to all of thousands or tens of thousands (or possibly more) average users.
No, witnesses have provided input to the developers to help decide what is included in the proposed release. Witnesses (and stakeholders) have not yet decided whether it will be approved/activated. If not then it will be back to the drawing board to come up with something else, or perhaps nothing will change.
In point of fact we don't even know if freedom/pumpkin supports this, because no one to my knowledge has discussed it with anyone known to be that person/account. It may be that freedom/pumpkin changes witness votes to oppose the fork.
BTW, there is no vote negation. Yes larger voters have greater weight, but all votes count. P/F only controls several percent of the total and can easily be overruled by the sum of many other votes, both large and small. Don't buy the idea that any vote is too small to count. If anything that rhetoric is a trick to discourage small stakeholders from participating which only further reduces their influence.